Credit-card delinquencies hit record - Good read I thought.

[ABV]

I don't mean to overshadow the screw job on gas prices, but that bankruptcy law couldn't come at a worse time with the huricanes, war, gas prices etc. It'd be nice if the govenment could start helping people help themselves instead of waiting for them to have nothing and then trying to support them. But they're too busy helping the rich get richer.
The government is forcing the hand of CC companies to raise the minimum amount due each month. Most companies are raising it from 2% to 4%. It might sound bad, but it will help people get rid of thier CC debt faster, and maybe, hopefully, make them think twice about racking up all that debt. They have also talked about putting a warning/notice on everyones statement. Think of it as kind of a surgeon generals warning on a pack of cigarettes. It just tells the consumer that if they only make the minimum payments, that it will take them xx months, and they will pay $xxx.xx in interest.

If you really want to stick it to the CC companies, pay off all your CC debt, and use a rewards card, to get freebies from the company. Just make sure you pay it off every month. I currently have about $4,000 on a CC at 0% interest until June. I could pay it off pretty quick if I wanted to, but I'd rather borrow the money for free, and use my savings to make money instead.


One last thing. Bankruptcy is not a "Tip" for getting out of debt. It's just a way to pass your own debt onto other consumers who actually pay thier bills.

[CDeutsch]

One last thing. Bankruptcy is not a "Tip" for getting out of debt. It's just a way to pass your own debt onto other consumers who actually pay thier bills.

I agree with everything but you're last statement.

Bankruptcy is a very viable option for those that are in way over their head (no it's not for everyone, "way over" is the key word here). I used to think the same way you do, until you meet someone whose in that situation. For them, there at the point where it's bankruptcy and have a fresh start and can actually work and have money to live, or start trying to qualify for government assistant where you get money for doing nothing. Now which would you recommend? Have the tax payers pay for god knows how many years, or have the "poor, incocent credit card compnies" right it off. Sure it was their own fault for ending up in that situation, but regardless they're there and those are the options.

[JET]

I agree with Mark. If they go bankrupt they won't just go delinquent on their CC, but also their other loans and bills. That costs the rest of us consumers money because we have to make up for them. It is just like people being on welfare, the rest of us pay for it.

I am a hard ass when it comes to things like that, if you rack up the debt, you pay for it. What ever happened to being responsible for your own actions?

[Outlaw1]

Last year at this time I was paying half of what I pay for fuel now. My fuel bill has doubled, and that's more than $20 a month difference for me. Just for reference sake, I have driven more than 31,000 miles in the last year. Luckily I make enough money and I can absorb the cost easily. What about those people that are just getting by? It's easy to say "get a better job", but that's not the only solution. I don't see how raising the fuel prices could help anyone, except the people selling oil/gas and the government that taxes them. I am onsite at the 7th largest refinary in the United States and I have not found anyone that could justify the price of oil/fuel. Maybe I'm asking the wrong people. Within the last two days the price of fuel has gone from $2.56 to $2.76 at the gas station close to my house. Who is that helping? Not me.

[CDeutsch]

The only good thing that could come of the high prices are maybe people will stop commuting in Trucks and SUVs. :D

[Outlaw1]

The only good thing that could come of the high prices are maybe people will stop commuting in Trucks and SUVs. :D
I'm from Texas, we all drive trucks. I own several. Ya gotta have a vehicle that can pull a gooseneck horse trailer, haul firewood, make it down a dirt road in the rain while pulling a trailer without getting stuck and still keep the family comfortable while pulling your fifth wheel travel trailer out of town for a weekend get away. I'm still kinda shocked there's so many people with little cars here. I was here for nearly two weeks before I saw my first Ford SuperCrew. From conversations I've had with the locals and my neighbors (BTW very nice people), the majority of people here are "city slickers". Nobody cuts their own firewood, no hunting leases, no four wheelin', no horses/cattle... I really thought it was gonna be the exact opposite since there's so much open country up here.

[CDeutsch]

Key word here is "commuting". I'm from ND and the people who own trucks and SUVs there actually use them like you describe and then some and I'm not against that. Here people use them to drive to their office job. They always say "well it's nice to have, because we tow our boat once a month, blah, blah, blah". In reality it's used as a utitlity vehicle 2% of the time and as general transportation 98% of the time. Here's an idea, get a truck AND a car and use the right one for the right job. Seriously get a Honda and stop fucking up traffic, parking, etc with your oversized, overprized, gas wasting land yaht. The bad thing is they've gotten so "buick like" that idiots actually think these vehicles stop and handle like cars.

[Halon]

I drive a 4cyl galant, gets on avg 27mpg. My uncle drives what I consider to be a fairly big truck. He has a Dodge Ram Cummins Diesel. When I was working with him this summer, he avg right around mid-low 20's with the truck full of painting crap, and towing his big trailer full of painting stuff. That big truck was getting about the same mpg as my dad's buick. That's pretty good I think.

Maybe it's because I came from japan where they payed around $4/gallon a year ago. So I can't imagine what they pay now. So even though are prices are up, they still are no where near what they are paying so I still consider myself lucky. Or again maybe I don't blame things going wrong in my life on the government. I like to think I am in control of my life and so I just work hard to make sure that I am OK instead of counting on some agency or the government to come to my rescue.

[Outlaw1]

Seriously get a Honda and stop fucking up traffic, parking, etc with your oversized, overprized, gas wasting land yaht.
I'm not driving a Honda. :D Hell, I feel like half a sissy boy driving my DSM. You have a good point though, and that is exactly what I do. My FWD DSM got over 30mpg and I'm hoping I can average somewhere around 25MPG in the AWD car. If not I will pull the t-case/driveshaft and FWD around until snow is on the ground and the AWD will be a benefit.

[CDeutsch]

Smart man.

I don't so much care about the mileage they get (as long as the owner doesn't bitch). I just think they're too large for everyday driving and they're defintely not helping traffic any. Most of it is probably because I can't F'n see around them and they're driving in the left lane like they own it.